Updates, advisories and surprises

(5:08 PM ET) SAN FRANCISCO (MarketWatch) -- Expedia Inc.
EXPE, +1.58%
on Thursday reported a fiscal first-quarter net loss of $3.3 million, or 2 cents a share, on revenue of $816.5 million. During the same period a year ago, the online travel bookings company earned $52 million, or 37 cents a share, on $727.8 million in revenue. Adjusted earnings totaled $36.9 million, or 26 cents a share. Analysts surveyed by FactSet Research had forecast Expedia to earn 15 cents a share on $792.3 million in revenue. Expedia shares rose as much as 18% in after-hours trading following the results. [Adds Expedia's net loss figures].

KLA-Tencor profit slips, but results beat Street

(4:47 PM ET) SAN FRANCISCO (MarketWatch) - KLA-Tencor Corp.
KLAC, -1.24%
on Thursday reported a fiscal third-quarter profit of $205 million, or $1.21 a share, compared with a profit of $210 million, or $1.22 a share, for the year-earlier period. Revenue was $841 million, up from $834 million. Adjusted income was $1.27 a share. Analysts surveyed by FactSet Research were on average expecting a profit of $1.09 a share, on revenue of $802.1 million.

Fusion-io swings to a loss

(4:44 PM ET) SAN FRANCISCO (MarketWatch) - Fusion-io Inc.
FIO
on Thursday reported a fiscal third-quarter loss of $4.68 million, or 5 cents a share, compared with a profit of $7.04 million, or 9 cents a share, for the year-earlier period. Revenue was $94.2 million, up from $67.3 million. Adjusted profit was 6 cents a share. Analysts were expecting a profit of 2 cents a share, on revenue of $85.4 million, according to a consensus survey by FactSet Research. For the current quarter, the company said it expects revenue to be "essentially flat sequentially" Analysts were expecting revenue of $88.3 million. Shares of Fusion-io were down 10% in after-hours trading.

Amazon earnings fall, but blow past estimates

(4:35 PM ET) SAN FRANCISCO (MarketWatch) - Amazon.com said Thursday afternoon that earnings slid by 35% in the first quarter, though the final number came in far above Wall Street's estimates. For the quarter ended March 31, Amazon
AMZN, -0.89%
reported net income of $130 million, or 28 cents a share, compared to net income of $201 million, or 44 cents a share, for the same period last year. Operating income fell 40% to $192 million - implying an operating margin of 1.5% for the period. Revenue rose 34% to $13.18 billion. Analysts were looking for earnings of 6 cents a share on revenue of $12.9 billion, according to consensus estimates from FactSet Research.

Western Digital earnings climb 231%

(4:29 PM ET) SAN FRANCISCO (MarketWatch) -- Western Digital Corp.
WDC, +0.44%
on Thursday reported a fiscal third-quarter profit of $483 million, or $1.96 a share, on revenue of $3 billion. During the same period a year ago, the computer hard-disk drive maker earned $146 million, or 62 cents a share, on $2.3 billion in sales. Excluding one-time items, Western Digital would have earned $619 million, or $2.52 a share. Analysts surveyed by FactSet Research had forecast Western Digital to earn $1.59 a share on $2.48 billion in revenue. In a statement, Chief Executive John Coyne said Western Digital 's recovery efforts following last-year's flooding in Thailand have reached a point where the company is now able to "adequately meet anticipated customer demand in the current quarter and beyond."

Gilead profit falls after acquisition costs

(4:21 PM ET) NEW YORK (MarketWatch) -- Gilead Sciences Inc.
GILD, -1.04%
said Thursday its first-quarter profit fell to $442 million, or 57 cents a share, from $651 million, or 80 cents a share, in the year-ago period. The latest quarter included 25 cents a share in costs related to the company's acquisition of Pharmasset. Adjusted profit in the latest quarter totaled 91 cents a share. Revenue rose to $2.28 billion from $1.93 billion. Wall Street analysts expected Gilead Sciences to earn 93 cents a share on revenue of just under $2 billion, according to a survey by FactSet Research.

Starbucks lifts targets for profit, store openings

(4:21 PM ET) SAN FRANCISCO (MarketWatch) -- Starbucks
SBUX, -0.18%
on Thursday lifted its fiscal 2012 profit outlook and plans to open more stores worldwide than it had previously forecast. Profit for Starbucks' fiscal second quarter ended April 1 rose 18% to $309.9 million, or 40 cents a share, from $261.6 million, or 34 cents a share, in the same 2011 period. Revenue climbed 15% to $3.2 billion. Same-store sales grew 7%. Transaction count was up 6%. Average ticket price rose 1%. Operating margin was flat at 13.5%. For its September fiscal year, Starbucks expects to earn $1.81 to $1.84 a share, up from its old target of $1.78 to $1.82 a share. Store openings will total 1,000, up from 800 stores previously planned. "With coffee cost pressures easing in the second half of the year and momentum building from investments in our growth initiatives, we are well positioned to deliver on our aggressive targets," CFO Troy Alstead said in a statement. Starbucks shares have surged 64% over the last 12 months, 16 times the gain for the S&P 500. Shares fell 2% to $57.89 in after-hours trades.

NetSuite posts loss

(4:19 PM ET) CHICAGO (MarketWatch) -- NetSuite Inc.
N
on Thursday reported a first-quarter loss that was about flat with that of the same period a year ago. The software developer said it lost $7.7 million, or 11 cents a share, compared with a loss of $7.7 million, or 12 cents, in the prior year. Excluding items, the company turned a profit of 6 cents per share in the latest three months. Revenue rose 30% to $69.3 million. Analysts polled by FactSet Research were expecting a profit of 3 cents a share on revenue of $67.85 million.

Angie's List posts wider loss, but sales jump

(4:16 PM ET) SAN FRANCISCO (MarketWatch) - Angie's List Inc.
ANGI, +1.30%
on Thursday reported a first-quarter net loss of $13.45 million, or 24 cents a share, compared with a loss of $9.6 million, or 34 cents a share, for the year-earlier period. Revenue was $31.1 million, up from $17.6 million. Analysts were expecting a loss of 25 cents a share, on revenue of $29.4 million, according to a consensus survey by FactSet Research. For the current quarter, the company expects revenue in the range of $34.5 million to $35.5 million. Analysts were expecting $34.31 million, according to data from FactSet Reserch.

Met Life swings to loss in first quarter

(4:15 PM ET) CHICAGO (MarketWatch) -- Higher interest rates and lower credit spreads landed Met Life in the red in the first quarter, the insurance company said Thursday. After the close of trading, Met Life said that it lost $174 million, or 16 cents a share, on the period vs. earnings of $701 million, or 66 cents a share, in the same quarter of 2011. On an operating basis, the company would have earned $1.37 a share in the quarter, up from $1.23. Revenue rose 7% to $16.7 billion. The average estimate of analysts polled by FactSet Research had been for Met Life
MET, -0.19%
to earn $1.30 a share on revenue of $16.7 billion.

Zynga narrowly beats estimates; revenue up 32%

(4:11 PM ET) SAN FRANCISCO (MarketWatch) - Zynga Inc. reported a net loss for its first quarter on Thursday afternoon, though adjusted earnings came in slightly ahead of Wall Street's estimates. For the quarter ended March 31, Zynga
ZNGA, +0.56%
reported a net loss of $85.4 million, or 12 cents a share, compared to net income of $16.8 million, or break even on a per-share basis, for the same period last year. Adjusted earnings came in at $47 million, or 6 cents a share. Bookings for the quarter rose 15% to $329.2 million. Revenue rose 32% to $321 million. Analysts were looking for adjusted earnings of 5 cents a share on revenue of $318 million, according to consensus estimates from FactSet Research.

Exxon cuts rigs as natural gas prices sap profit

(2:55 PM ET) NEW YORK (MarketWatch) -- Exxon Mobil
XOM, +0.43%
said lower U.S. natural gas prices ate away $300 million in earnings in its first quarter, compared to the year-ago period. In the U.S., Exxon said it's shifting its rigs to liquids-rich areas. The oil major is focusing on the Bakken of North Dakota, the Permian of Texas and Ardmore of Oklahoma and it's getting ready to drill in the Utica shale of Ohio. In total, Exxon had about 64 rigs running in the first quarter in the U.S., down from about 71 last year. Oil equivalent volumes fell more than 5%, mostly because of lower entitlement volumes in West Africa, oil field declines and divestments. Production increased from Angola and Iraq. Compared against the fourth quarter of last year, Exxon drew about $7 more for each barrel of oil sold, while overseas natural gas prices rose about 26 cents per thousand cubic feet. These gains were offset by higher taxes.

Cirrus Logic shares climb 14%

(10:36 AM ET) SAN FRANCISCO (MarketWatch) -- Cirrus Logic Inc.
CRUS, -1.86%
shares climbed 14% to $26.32 Thursday following the audio chipmaker's quarterly results and forecast. Late Wednesday, Cirrus said that for its fiscal fourth quarter, it earned 36 cents a share on revenue of $110.6 million, which beat analysts' estimates. The company, which makes products for smartphones including Apple Inc.'s iPhone, said that during the September quarter it "expects to transition to a sharply higher level of revenue," as investors took the comments to mean a new iPhone will be released later this year.

Vasco Data shares slide on disappointing results

(10:25 AM ET) SAN FRANCISCO (MarketWatch) -- Shares of Vasco Data Security International Inc.
VDSI, -0.36%
slid 16% to $8.11 on Thursday morning, after the company reported lower-than-expected results for the first quarter. Revenue from continuing operations fell 11% during the period, with earnings per share coming in at 5 cents compared to the 9 cents expected by analysts. In a statment, the company attributed the shortfall to "the timing of receipt of new orders and production delays associated with the Chinese New Year." The company specializes in Internet security solutions.

PulteGroup jumps 7% on narrower loss, more orders

(10:18 AM ET) NEW YORK (MarketWatch) -- PulteGroup Inc.
PHM, +0.81%
shares jumped as much as 7% at the open Thursday after the homebuilder reported a sharply narrower first-quarter loss. Pulte cited stronger results from its financial services unit, tighter cost controls and a 15% jump in new home orders for the improvement, offering investors a "cautiously optimistic" view that the struggling U.S. housing market may finally be on the rebound. For the quarter, PulteGroup posted a loss of 3 cents a share, down from a year-ago loss of 10 cents a share. Pulte shares were last up 7% at $9.31, landing the company among the top five percentage gainers in the S&P 500. Including today's advance, the stock is up neary 48% since Jan. 1.

Akamai falls on disappointing profit forecast

(10:00 AM ET) SAN FRANCISCO (MarketWatch) -- Shares of Akamai Technologies Inc.
AKAM, -0.76%
fell more than 8% Thursday morning to $35.34 after the company issued its first-quarter results that included a disappointing forecast for profits in the second quarter, according to analysts. Earnings for the March period fell 15% on higher expenses, though came in ahead of Wall Street's estimates. But the company said it expects earnings of 36-38 cents a share in the second quarter - slightly below Wall Street's consensus target of 39 cents. Mark Mahaney of Citigroup retained his sell rating on the stock, noting that "we remain concerned about an increasingly competitive environment - with a special focus on Amazon," as well as what he describes as a "premium valuation."

(9:42 AM ET) SAN FRANCISCO (MarketWatch) -- Shares of MetroPCS and Leap Wireless both fell hard Thursday morning following disappointing earnings results from both pre-paid wireless carriers. MetroPCS
PCS
saw its shares fall 11% to $7.04 after the company reported a 63% drop in first-quarter profits on a sharply lower number of new subscribers compared to the same period last year. Leap Wireless
LEAP
plunged nearly 24% to $5.89 after the company also reported a sharp decline in new subscribers for the quarter, along with a net loss of $98.4 million. "If anything, the poor results from MetroPCS, and cautious guidance from Leap, suggest that things might be getting more difficult for the pre-paid specialists," wrote Craig Moffett of Bernstein Research in a note to clients.

Reliance Steel profit up 26%

(9:00 AM ET) NEW YORK (MarketWatch) -- Reliance Steel & Aluminum
RS, +3.39%
said Thursday its first-quarter profit rose to $116.2 million, or $1.54 a share, from $92.3 million, or $1.23 a share, in the year-ago period. The metal producer's sales increased to $2.29 billion from $1.91 billion. Wall Street analysts expected the company to earn $1.42 a share on sales of $2.2 billion, according to a survey by FactSet Research.

Kellogg Co. profit falls, sales dip 1.3%

(8:21 AM ET) NEW YORK (MarketWatch) - Kellogg & Co.
K, -0.23%
said Thursday its first-quarter profit fell to $358 million, or $1 a share, from $366 million, or $1 a share, in the year-ago period. The Battle Creek, Mich., food company's sales fell 1.3% to $3.44 billion. Kellogg, which issued a profit warning on April 23, cited weakness in its European business. Wall Street analsyts expected Kellogg to earn $1 a share on sales of $3.52 billion, according to a survey by FactSet Research.

UPS posts 6% higher profit

(8:16 AM ET) NEW YORK (MarketWatch) -- United Parcel Service Inc.
UPS, -0.93%
reported Thursday net profit rose to $970 million, or $1 a share, from $915 million, or 91 cents a share a year ago. Revenue for the three months ended March 31 rose 4.4% to $13.14 billion from $12.58 billion, with the strongest gains seen in domestic parcel service. Analysts polled by FactSet Research had expected the company to earn $1.02 a share on $13.3 billion in revenue. The company stuck by its earlier full-year earnings outlook of $4.75 to $5 a share. UPS shares have gained 7.2% over the past 12 months.

Exxon profit falls 11% as expenses rise

(8:09 AM ET) NEW YORK (MarketWatch) -- Exxon Mobil Corp.
XOM, +0.43%
said Thursday its first-quarter profit fell 11% to $9.45 billion, or $2 a share, from $10.65 billion, or $2.14 a share, in the year-ago period. The latest earnings figure included a $400 million gain from asset sales. Wall Street analysts expected Exxon to earn $2.10 a share, according to a survey by FactSet Research. Total revenue for the quarter rose to $124 billion from $114 billion. Total costs increased to $107 billion from $95 billion. Total production of crude oil and natural gas equivalents fell to 2.21 million barrels a day from 2.4 million barrels of oil equivalent a day.

United Continental loss widens, revenue climbs

(7:58 AM ET) NEW YORK (MarketWatch) -- United Continental Holdings Inc.
UAL, -0.33%
said Thursday its first-quarter loss widened to $448 million, or $1.36 a share, from a loss of $213 million, or 65 cents a share, in the year-ago period. The carrier's adjusted loss was 87 cents a share. Revenue rose 4.9% to $8.6 billion. Wall Street analysts expected the airline to lose $1.12 a share on revenue of $8.6 billion, according to a survey by FactSet Research.

Bristol-Myers Squibb profit climbs above $1 bln

(7:40 AM ET) NEW YORK (MarketWatch) -- Bristol-Myers Squibb
BMY, -0.03%
said Thursday its first-quarter profit climbed to $1.1 billion, or 64 cents a share, from $986 million, or 57 cents a share, in the year-ago period. Adjusted earnings at the drug maker totaled 64 cents a share. Revenue climbed 5% to $5.25 billion. Wall Street analysts expected Bristol-Myers Squibb to earn 64 cents a share on revenue of $5.26 billion, according to a survey by FactSet Research.

Entergy swings to a loss

(7:35 AM ET) NEW YORK (MarketWatch) -- Entergy Inc.
ETR, +0.54%
said Thursday it swung to a first-quarter loss of $151.7 million, or 86 cents a share, from a profit of $248.7 million, or $1.38 a share, in the year-ago period. Adjusted profit in the latest quarter totaled 44 cents a share. During the quarter, the power company took a non-cash impairment of $223.5 million. Revenue fell to $2.38 billion from $2.54 billion. Wall Street analysts expected Entergy to earn 77 cents a share on revenue of $2.36 billion, according to a survey by FactSet Research.

Colgare-Palmolive profit rises

(7:29 AM ET) NEW YORK (MarketWatch) -- Colgate Palmolive Co.
CL, +0.34%
said on Thursday that its first-quarter profit inched higher, to $593 million, or $1.23 a share, compared to $576 million, or $1.16 share a year ago. The firm earned $1.24 a share on an adjusted basis. Revenue at the firm was $4.20 billion, compared to $3.99 billion a year ago. Analysts polled by FactSet Research had expected the firm to earn $1.24 a share, on revenue of $4.17 billion.

Dow Chemical profit falls

(7:20 AM ET) NEW YORK (MarketWatch) -- Dow Chemcial Co.
DOW, +0.00%
said Thursday its first-quarter profit fell to $412 million, or 35 cents a share, from $625 million, or 54 cents a share, in the year-ago period. Adjusted earnings in the latest quarter totaled 67 cents a share. Sales remained about flat at $14.7 billion. Wall Street analysts expected Dow to earn 59 cents a share on revenue of just under $15 billion, according to a survey by FactSet Research.

Moody's profit rises

(7:20 AM ET) NEW YORK (MarketWatch) -- Moody's Corp.
MCO, +1.00%
said on Thursday that its first-quarter profit climbed to $173.5 million, or 76 cents a share, compared to $155.5 million, or 67 cents a share a year ago. Revenue at the firm jumped to $646.8 million, versus $577.1 million a year ago. Analysts polled by FactSet Research had expected the firm to earn 69 cents a share, on revenue of $623.3 million.

PepsiCo profit flat versus year ago

(7:14 AM ET) NEW YORK (MarketWatch) -- PepsiCo Inc.
PEP, +0.08%
said on Thursday that its first-quarter profit was $1.13 billion, or 71 cents a share, versus $1.14 billion, or 71 cents a share a year ago. The company reported adjusted earnings of 69 cents a share. Revenue at the firm rose 4%, to $12.43 billion, from $11.94 billion. Analysts polled by FactSet Research had expected PepsiCo to earn 66 cents a share, on revenue of $12.35 billion.

PulteGroup narrows loss, buyer sentiment improved

(7:05 AM ET) MADRID (MarketWatch) -- PulteGroup Inc.
PHM, +0.81%
on Thursday said its first-quarter loss narrowed, helped by higher gross margins and cost controls. Losses in the period totalled $11.7 million, or a loss of 3 cents a share, against a loss of $39.53 million, or 10 cents in the year-ago period. Revenue rose to $881 million from $805 million in the year-ago period. The company said home-sale revenue rose 4% and its adjusted gross margin rose 180 basis points to 18.7%. "While overall industry volumes remain well below normal levels, our first quarter sales and traffic patterns suggest a positive shift in buyer sentiment during the period," said Richard J. Dugas, Jr., PulteGroup chairman, president and chief executive. The company reported a 15% gain in signups.

Aetna reports drop in net income, revenue up

(6:28 AM ET) MADRID (MarketWatch) -- Health-care benefits group Aetna Inc.
AET, +0.76%
on Thursday reported a drop in net income as revenue rose 6% and the company reaffirmed its full-year 2012 projected earnings per share of around $5. The company reported a 13% fall in net income to $511 million, versus $586 million in the year-ago period. On a per share basis, the company earned $1.43, versus $1.50 per share a year ago. That includes $0.09 per share of net realized capital gains. Medical membership totaled 17.9 million members at March 31. "Our first-quarter results are a good start to the year, and we expect continued strong performance in 2012," said Mark T. Bertolini, Aetna chairman, CEO and president.

Time Warner Cable profit jumps 17.5%

(6:20 AM ET) CHICAGO (MarketWatch) -- Time Warner Cable Inc.
TWC, +0.08%
the second-largest U.S. cable-television operator, said Thursday that its first-quarter profit rose nearly 18% on increased demand for its residential broadband services, even as video demand was about flat excluding acquisitions. The company said it earned $382 million, or $1.20 a share, in the latest three months, compared with a profit of $325 million, or 93 cents, in the year-ago period. Excluding items, Time Warner Cable would have earned $1.30 a share in the latest first quarter. Revenue rose 6.4% to $5.13 billion. Analysts polled by Thomson Reuters were expecting an adjusted profit of $1.21 a share on revenue of $5.13 billion.

Volkswagen shares jump as earnings beat forecasts

(5:33 AM ET) MADRID (MarketWatch) -- Shares of German auto group Volkswagen AG(DE:VOW3)rose nearly 6% on Thursday after it reported a 10% rise in operating profit as group sales rose 26.3%. For the January to March quarter, Volkswagen said operating profit rose to €3.21 billion ($4.24 billion) versus €2.91 billion in the year-ago period. Pretax profit jumped 93% to €4.3 billion from €2.22 billion in the year-ago period. Sales rose to €47.33 billion from €37.47 billion in the year-ago period. A survey of analysts polled by Dow Jones Newswires was forecasting operating profit of €2.72 billion, pretax profit of €2.9 billion and sales of €44.4 billion. Volkswagen said its 2012 sales revenue will exceed the prior-year figure and its goal for operating profit will match the 2011 level. "Positive effects from our attractive model range and strong market position will be offset in part by increasingly stiff competition in a challenging market environment, especially in certain European countries," said the company in a statement.

Europe stocks flat amid results, Alcatel tumbles

(3:21 AM ET) MADRID (MarketWatch) -- European stock markets traded flat to lower on Thursday amid a deluge of earnings news, with shares of Alcatel-Lucent SA(FR:ALU)
ALU, -0.86%
sinking 13% after it cautioned on the outlook for its major markets. The Stoxx Europe 600 index(XX:SXXP)was flat at 257.01, with well-recieved company updates lifting shares of Royal Dutch Shell PLC(UK:RDSA)
RDS.A, -1.30%
2% and Unilever PLC(UK:ULVR)
UL, -0.41%
gaining 4%. Shares of Vivendi SA(FR:VIV)jumped nearly 5% after the company denied breakup talks. AstraZeneca PLC(UK:AZN)
AZN, -0.26%
tumbled 4.7% after disappointing results, a warning and news its Chief Executive David Brennan is leaving. The FTSE 100 index(UK:UKX)rose 0.2% to 5,731.82. The German DAX 30 index(DX:DAX)fell 0.3% to 6,683.20, the French CAC 40 index(FR:PX1)fell 0.3% to 3,223.79 and the Spain IBEX 35 index(XX:IBEX)fell 0.6% to 7,076.20 after Santander SA
STD, +1.21%
(ES:SAN)fell 1.2% after reporting a fall in profit as provisions rose.

Santander profit drops 24% as provisions rise

(2:55 AM ET) MADRID (MarketWatch) -- Spain's Banco Santander SA(ES:SAN)
STD, +1.21%
on Thursday reported a 24% fall in first-quarter net profit as it had to take more provisions for non-performing loans. Net profit fell to €1.60 billion ($2.10 billion) against €2.1 billion in the year-ago period. Analysts polled by Dow Jones Newswires had been forecasting net profit of €1.64 billion. Net interest income for the group was €7.8 billion against €7.1 billion in the year-ago period. Loan-loss provisions jumped 51% to €3.13 billion from €2.07 billion, though the group said its exposure to property risk in Spain fell during the quarter by €1.9 billion. Santander's non-performing loan rate rose to 3.98% in March from 3.61% a year ago, while its core capital was 10.1% in March. Santander reiterated it will pay €0.60 per share dividend this year.

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